Tag Archives: Internal Revenue Service

How the Shutdown is Affecting Real Estate

Tommy Ironic on Flicker
Tommy Ironic on Flicker

The government shutdown is starting to cripple the real estate business just as it was starting a comeback.  You might ask how this is happening, well,  here are just some of the reasons.

  1. FHA and VA loans are being delayed because of lack of staff
  2. USDA loans which are for low income borrowers, have ground to a complete halt.
  3. IRS is down, so FHA and conventional loans cannot verify tax documents, delaying or killing loans.

All this means that real estate deals are being put on hold, or in some cases, just falling apart. There is a real good chance if this idiotic shutdown continues that interest rates will climb. A one percent increase in the interest rate and shutdown could mean a decline in 450,000 home sales. Welcome to another depression, thanks some die hard conservatives.

John J. O’Dell
Real Estate Broker
Civil Engineer
General Contractor

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The Dirty Dozen Tax Scams For 2013

 

simplified-tax-form

 

Although the 2012 tax season is officially over, tax scams unfortunately are not, which is why the IRS issues an annual “Dirty Dozen” list that includes common tax scams affecting taxpayers.

Taxpayers should be aware of these tax scams so they can protect themselves against claims that sound too good to be true, and because taxpayers who buy into illegal tax scams can end up facing significant penalties and interest and even criminal prosecution.

Here are the tax scams that made the IRS “Dirty Dozen” list this filing season:

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